1. Asset management firm The Carlyle Group revealed the salaries of its executives in a regulatory filing. The private equity company's three founders each earned about $3.8 million in salary and bonuses last year. Carlyle also disclosed its planned stock ticker--CG. The firm plans to list on the Nasdaq Stock Market due to lower registration and listing fees and better familiarity with the exchange.
2. Online health company WebMD took itself off the auction block after it failed to attract satisfactory offers from potential buyers. Shares in WebMD plummeted almost 28% in premarket trading last Tuesday.
3. Former hedge fund manager Drew Brownstein was sentenced to a year and a day in prison after pleading guilty to insider trading accusations. Mr. Brownstein admitted to buying stock in Mariner Energy after receiving information that the company was about to be acquired.
4. Hostess Brands, best known for products such as Twinkies and Ding Dongs, filed for Chapter 11 bankruptcy last Wednesday. The company has amassed $860 million in debt and suffers from rising expenses from its workforce. Hostess said its return to bankruptcy will not affect the company's sale of tasty treats.
5. Goldman Sachs lost a total of 50 senior partners in 2011. Edward Eisler and David Heller, the co-directors of Goldman's securities division were among the more prominent retirements. There are just 33 partners today who were partners when Goldman went public in 1999.
6. JP Morgan Chase announced its quarterly profit dropped 23 percent. The bank made $19 billion in 2011, up 9 percent from the $17.4 billion total in 2010. However, JP Morgan earned $3.7 billion in the fourth quarter of 2011, down 23% from the same quarter a year before.
7. Co-founder of Yahoo Jerry Yang announced he will step down from the board of directors. In a letter to Yahoo's chairman, Yang wrote, "The time has come for me to pursue other interests outside of Yahoo."
8. The Senate Agriculture Committee is considering new policies to prevent a repeat of the MF Global bankruptcy. MF Global reportedly misused $1.2 billion in customer money invested in futures and options.
9. Film and camera company Eastman Kodak announced it will file for bankruptcy. The company has only reported one profitable year since 2004, and its short supply of cash finally caused it to filed for Chapter 11. Citigroup loaned Kodak $950 million in financing to allow operations to continue.
10. Bank of America reported a fourth-quarter profit of $2 billion compared with a loss of $1.2 billion in the same period a year ago. The profit was buffered by a $2.9 billion gain on sale of a stake in China Construction Bank. However, BofA is still in the hole. Its disastrous acquisition of Countrywide Financial in 2008 saddled the bank with more than $30 billion in losses.
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